Inchcape (LON:INCH) Shares Cross Above 200 Day Moving Average – Should You Sell?

Inchcape plc (LON:INCH) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 771.79 and traded as high as GBX 782. Inchcape shares last traded at GBX 782, with a volume of 1,449,448 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on INCH shares. Citigroup upped their target price on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,050.

Inchcape Stock Up 4.3%

The firm has a market cap of £2.80 billion, a P/E ratio of 7.45, a P/E/G ratio of 2.06 and a beta of 0.89. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 100.56. The business has a 50-day moving average price of GBX 822.22 and a 200-day moving average price of GBX 771.79.

Inchcape (LON:INCH) last released its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 earnings per share for the quarter. Inchcape had a return on equity of 23.83% and a net margin of 2.99%. On average, equities analysts forecast that Inchcape plc will post 85.9639233 EPS for the current fiscal year.

Inchcape declared that its board has approved a share repurchase plan on Tuesday, March 3rd that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Inchcape Company Profile

Inchcape is the leading global automotive distributor, with operations across six continents. By combining our in-market expertise with our unique technology and advanced data analytics, we create innovative customer experiences that deliver outstanding performance for our partners – building stronger automotive brands and creating sustainable growth. Our distribution platform connects the products of mobility company partners with customers, and our responsibilities span product planning and pricing, import and logistics, brand and marketing to operating digital sales, managing physical sales and aftermarket service channels.